Real Talk How will young working Americans be affected if Debt Celing collapes?

[luckyluchiano]

I`m assuming it will primarily make it hard to get loans and interest rates when getting these things will be high, and people receiving government aid will be screwed right?

I ask this because as you all know I eventually plan on buying a new whip, and if this happened would banks trip on giving loans? I can see how it would be for trying to get a home, but with things such as a car?

 

[weekz]

if debt celing collapse happens:
to answer your question interest rates and prices will soar making living life hell, stocks will crash and jobs that were scarce will cease to exist.

to the wider picture, entire currency markets could fall, inflation could rise world wide the recession will double dip.

when we pull out the world will be looking to the east not the west and the colors of freedom will be red and gold, no longer red white and blue

 

[duba169]

it isn't going to happen it's just posturing.

 

[moneymike88]

Originally Posted by Weekz

if debt celing collapse happens:
to answer your question interest rates and prices will soar making living life hell, stocks will crash and jobs that were scarce will cease to exist.

to the wider picture, entire currency markets could fall, inflation could rise world wide the recession will double dip.

when we pull out the world will be looking to the east not the west and the colors of freedom will be red and gold, no longer red white and blue

im not sure how accurate this is...if the U.S. fails then so will China

 

[capricorn1229]

Originally Posted by Weekz

 when we pull out the world will be looking to the east not the west and the colors of freedom will be red and gold, no longer red white and blue

 

 

[weekz]

Originally Posted by moneymike88

Originally Posted by Weekz

if debt celing collapse happens:
to answer your question interest rates and prices will soar making living life hell, stocks will crash and jobs that were scarce will cease to exist.

to the wider picture, entire currency markets could fall, inflation could rise world wide the recession will double dip.

when we pull out the world will be looking to the east not the west and the colors of freedom will be red and gold, no longer red white and blue

im not sure how accurate this is...if the U.S. fails then so will China

While china does hold the majority of our debt, they are rich enough (and not in debt enough) to walk out RELATIVELY unscathed compared to the rest of the world should a double dip recession hit

 

[wawaweewa]

If they don't raise the debt ceiling significantly long term, we'll benefit.

Who do you think is going to pay interest on all this debt?

 

[luckyluchiano]

Originally Posted by moneymike88

Originally Posted by Weekz

if debt celing collapse happens:
to answer your question interest rates and prices will soar making living life hell, stocks will crash and jobs that were scarce will cease to exist.

to the wider picture, entire currency markets could fall, inflation could rise world wide the recession will double dip.

when we pull out the world will be looking to the east not the west and the colors of freedom will be red and gold, no longer red white and blue

im not sure how accurate this is...if the U.S. fails then so will China

yea, like I know China is big and all but pretty much isnt it because of the USA? And I talk to some folks and they say it's not going to be WW3 or anything like that,  but they could have been republicans tryna make it sound ok. Idk both politcal parties can go to hell, but I`m just trying to see if this is going to screw up things I got planned

Now the interest rates on lines of credit you already have couldnt change right? Or loans you already had such as a Govt Student loan?

 

[kbweezy24]

will it affect interest rates on loans that have already been taken? like my loans for school that were already given to me?

and what kind of jobs do you think will be affected?
^luchiano beat me to the interest question. anyone know anything about it?

 

[cash is king]

young working americans? do they exist.?  oh no thats hard working americans